What is a forfaiter and what role does he/she play in exporting? Please explain. And, how...

What is a forfaiter and what role does he/she play in
exporting? Please explain. And, how is the forfaiter different
from a factor.

Expert Solution

Fofaiter has very critical role in export and import. Forfaiter facilitates the transfer of payments to exporter of commodity. Hence, fortaiter eliminates the risk involved in export and import. it reduces the risk of transfer and exchange risk. Further, it also makes transaction easy and reduces cost substantially.

Factoring refers to the system where receivables are converted into the cash. Here, future conversion of cash is not awaited. This can be done both internationally as well as domestically. while Forfaiting is done internationally only.

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